空技术极具特色的创造之一，它的出现极大地拓展了飞行器的应用范围。直升机根据下游用途不同可分为军用直升机与民用直升机，其中军用直升机无论是在反坦克、反潜等立体化作战中还是在增强陆军机动性和后勤保障能力上均起着重要作用，是各国军事发展的重要方向。当前世界军用直升机已经发展了四代，并正朝着第五代发展。

Since the last decade, the introduction of new tourist destinations has fueled a revolution in the global tourism industry. With the increase in the number of the tourism service providers, there has been a significant growth in the demand for air travel and a simultaneous rise in the number of aircraft and helicopter. Some countries, such as Australia, France, Spain, South Africa, Hong Kong, Indonesia, the UK, and the US have been the major beneficiaries of global tourism over the years.

Transport is a critical driver of social and economic development, generating opportunities for the poor and facilitating economies to become more competitive. Transportation infrastructure connects individuals to jobs, health services, and education. Transportation infrastructure facilitates the supply of goods and services around the globe. For instance, rural roads help prevent neonatal and pregnancyrelated deaths by providing timely access to childbirth-related healthcare services and also help farmers to augment their revenue by connecting them to various markets.

回顾 2017 年，高速公路板块上涨主要来自业绩增长，铁路板块上涨主要来自业绩增长和改革预期。我们建议投资者 2018 年配置业绩确定性增长、相对低估值、改革潜在受益的标的，关注普客调价进程、收费公路管理条例修订进程。维持铁路行业“增持”评级，高速公路行业“中性”评级。

国家发改委日前公布部分研究课题公告，其中区域协同发展成为一个重要内容。发改委表示，未来将强化区域协调发展的体制机制创新，整合资源推动形成协同创新共同体，大力推进简政放权和机制创新，提升公共服务共建共享水平，加快破除制约协同发展和要素流动的体制机制障碍，增强区域协同发展新动能。

上周（2017.11.13-2017.11.17），中证军工指数报收8920.93 点，下跌5.40%；上证综指报收3382.91 点，下跌1.45%；深证成指报收11292.93点，下跌3.02%；中证军工指数上周大幅下跌，弱于上证综指和深证成指。1、板块方面，在28 个一级子行业中，国防军工板块上周涨幅排名第24。2、个股方面，上周涨幅排名前五的个股分别为华力创通（3.35%）、四创电子（3.02%）、中航光电（2.74%）、中国船舶（0.00%）以及中船防务（0.00%）；上周跌幅排名前五的个股分别为海特高新（-12.73%）、欧比特（-11.02%）、烽火电子（-10.60%）、中航电测（-10.51%）以及金信诺（-10.45%）。

民航繁荣是一个国家现代化的标志之一，目前我国民航发展已取得增长奇迹，规模在世界名列前茅，乘机大众化已经成为趋势，但随着需求旺盛增长，行业客座率逐年走高，近年来价格水平却总体呈现下跌趋势，我们认为民航国内线票价上限管制在很大程度上限制了干线市场的盈利水平。

Perishable goods transportation is an integrated component of cold chain logistics and helps in the management and control of the flow of the cold chain supply process. A rise in international trade has increased the need for the transportation of perishable products from producers to end-users in distant locations. Such transportation requires extensive logistics planning to ensure the integrity of the goods transported. The introduction of new and innovative methods to manage the supply chain management improves the effectiveness of logistics. 

Paper cups are usually coated with PE, which provides stability and heat resistance. However, these PE-coated paper cups are hard to recycle and do not decompose easily, which results in large amounts of paper cups piling up in landfills.

2017 年以来，航运走出了过去六年的持续低迷，截止前三季度，行业实现扭亏为盈。展望 2018，我们维持看好航运周期复苏的逻辑。